Cost to build multifamily

[Rik Chatterjee]

Hi All,

One of the deals I am looking at is a multifamily with a vacant piece of land around 70'x150'. I am thinking about building some additional units in that area (I am thinking I should be able to get atleast 6x 1B/1Ba + 2x Studios in there, if not more).

If I build one or more 2 floor building, how much can I expect to cost? (Think C+/B- units). I know it is tough to give good numbers, but indicators will do. This is in Phoenix, AZ.